Crypto mining hive expands data center operations in Sweden

Crypto mining company Hive Digital Technologies has announced plans to expand with a new asset acquisition and data center in Boden, Sweden.

In the year On November 27, the company announced that it had entered into an asset transfer agreement with Turis AB to take over data center assets previously built as part of the EU's Horizon 2020 project.

Hive said this new property is located “in close proximity” to its data center in Sweden, and plans to further grow the facility in its portfolio. The property also claims to host upcoming ASIC servers and boost Bitcoin (BTC) production.

Swedish Hive Country President Johanna Thornblad said:

“The new data center will enable HIV to grow its regional footprint, demonstrating its commitment to ESG focus, sustainable practices, environmental responsibility and energy efficiency through its new “green” energy-powered data center.

Hive owns and operates data center facilities in Canada, Sweden and Iceland, and promotes the use of green energy to produce cloud-based digital assets such as BTC.

Cointelegraph reached out to Hive for more information on the development.

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Earlier in 2023, Hive dropped the word “blockchain” from its official name to reflect an “enhanced focus” on the financial possibilities of artificial intelligence (AI), cloud computing and graphics processing units (GPUs).

The company went on to say that it plans to use 38,000 NVIDIA GPUs to provide small and medium-sized businesses with a more efficient alternative to major cloud service providers.

Hive CEO Aydin Kilic and Chairman Frank Holmes told Cointelegraph in an interview that the pivot to AI will not reduce or diminish its involvement in Bitcoin and crypto mining. Instead, the company is still heavily involved, but said that “blockchain and AI can definitely coexist” and remain “pillars of Web3.”

In September, Hive was one of the mining companies that participated in the launch of the Digital Power Network (DPN), which is a coalition associated with the Digital Chamber of Commerce to highlight the importance of proof of concept (PoW) mining.

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